Synchron’s Trapnell clarifies new role

Synchron/comminsure/appointments/

19 February 2020
| By Chris Dastoor |
image
image image
expand image

Director of risk-focused dealer group Synchron, Don Trapnell, said he and fellow co-director John Prosser weren’t retiring, nor will the company be up for sale, as the organisation clarifies what their executive re-structuring means for the future of the company.

It was previously announced Trapnell had stepped back the day-to-day running of the business, with former CommInsure head of distribution, Ian Knight, taking over.

“Everyone thinks we’re ready to retire, but the reality is John and I have been at the helm for 20-plus years and we’ve enjoyed our time,” Trapnell said.

“John and I are proud of Synchron and its achievements, and we’ll be handing over the reins in an orderly and timely fashion designed to retain the Synchron culture.

“We believe it’s appropriate to retain our culture and hand over the reins in a timely fashion that we call ‘programmed obsolescence’.”

Synchron currently had 534 advisers in its dealer group and had produced revenue of over $94 million in 2019.

“We needed to take more of a helicopter view of Synchron than we have in the past, we’ve been tied up with the day-to-day and now we have to senior executives able to do that,” Trapnell said.

Michael Jones, previously head of compliance, had also been promoted to general manager, legal and compliance; and Alison Massey, previously practice development manager, had been promoted to head of compliance – advice assurance.

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 2 weeks ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

5 days 4 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

2 weeks 6 days ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

1 week 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5